Desh Bandhu Gupta (8 February 1938 – 26 June 2017) was an Indian billionaire, philanthropist, entrepreneur and the founder of Lupin Limited, a multinational pharmaceutical company. At the time of his death, his net worth was estimated at US$3.6 billion.[1]
Desh Bandhu Gupta | |
|---|---|
 | |
| Born | 8 February 1938 |
| Died | 26 June 2017 (aged 79) Mumbai, India |
| Education | Bombay University |
| Occupation | Businessman |
| Known for | Founder and chairman, Lupin Limited |
| Children | 5, including Vinita D. Gupta and Nilesh Gupta |
Early life
editGupta was born on 8 February 1938 in Rajgarh, Alwar, Rajasthan.[2] He was the eldest of the five siblings.[3] He earned a master's degree in chemistry from Bombay University.[4]
Career
editGupta started his career as an associate professor at the Birla Institute of Technology and Science, Pilani, Rajasthan. He quit teaching and decided to be an entrepreneur as he was "not able to implement ideas into practice".[5] He moved to Bombay (now Mumbai) and worked in a small British pharmaceutical manufacturing company.[2]
He founded Lupin in 1968 with a start-up capital of ₹ 5000 borrowing the money from his wife. The first office of Lupin was rented premises in Central Mumbai used for dispatching medicines. Later, with a loan of ₹ 8 lakh from Central Bank of India, he started a factory whose major order was to provide iron and folic acid tablets to the Government of India programmes related to mother and child healthcare.[3] Under his leadership, Lupin became a global pharmaceutical company by entering markets across the globe including US and Japan.
Gupta set up the Lupin Human Welfare & Research Foundation (LHWRF) in October 1988.[4][6] LHWRF was set up with the objective of creating a reproducible and evolving model for sustainable rural development with a simple goal of uplifting families living below the poverty line in rural India.[4] This vision of rural development focuses on holistic development programs that systematically create opportunities and infrastructure, while empowering people in rural areas, to bring about a socio-economic change and ensure the inclusion of rural communities in the nation's economic progress. Nationally, the Lupin Foundation impacts the lives of 2.8 million people[7] living in about 3,500 villages spread across 9 states – Rajasthan, Maharashtra, Madhya Pradesh, Goa, Uttarakhand, Gujarat, Jammu, Andhra Pradesh, and Sikkim.
Gupta was the recipient of an Ernst & Young Entrepreneur of the Year Award for 2011 in the healthcare sector,[8] and a Frost & Sullivan Lifetime Achievement Award in 2013. In April 2018, he was posthumously inducted into the Hall of Fame at the CNBC TV18 India Business Leader Awards 2018.[9]
In 2015, Forbes estimated Gupta's net worth at $7.2 billion, making him the 254th richest person in the world.[1]
Personal life
editGupta was married to Manju and lived in Mumbai. He is survived by his wife and five children: four daughters and one son.[1] Their daughter Vinita D. Gupta is based in United States and is the Group President & CEO and son Nilesh Gupta is the Managing Director based in India.[3]
References
edit- ^ a b c "Forbes profile: Desh Bandhu Gupta". Forbes. Retrieved 26 June 2017.
- ^ a b "सिफारिश पर मिली थी फर्स्ट जॉब, ऐसे बनाई वर्ल्ड की चौथी बिगेस्ट फार्मा कंपनी". Dainik Bhaskar (in Hindi). 27 June 2017. Retrieved 27 June 2017.
- ^ a b c "Guru of Generics- Business News". Businesstoday.intoday.in. 13 June 2010. Retrieved 24 January 2016.
- ^ a b c "Lupin founder & Chairman Dr. Desh Bandhu Gupta passes away". The Hindu. 20 June 2017. Retrieved 26 June 2017.
- ^ "Whatever the mind can dream, it will achieve: DB Gupta". Money Control. 14 May 2012. Retrieved 27 June 2017.
- ^ "Lupin Human Welfare & Research Foundation". Lupinfoundation.in. 29 May 2013. Archived from the original on 4 May 2019. Retrieved 24 January 2016.
- ^ Aveek, Datta (27 June 2018). "Desh Bandhu Gupta: The humble professor". Forbes India. Retrieved 3 July 2018.
- ^ "EY Entrepreneur of the Year 2011". www.ey.com. 1 July 2018. Archived from the original on 23 July 2018. Retrieved 23 July 2018.
- ^ "CNBC-TV18 celebrates corporate India's best at IBLA 2018". CNBC TV18. 9 June 2018. Retrieved 3 July 2018.
- ^ "Pharma Doyen, Lupin founder passes away". Business Medical Dialogues. 27 June 2017.
- ^ "Lupin founder-chairman Desh Bandhu Gupta passes away at 79". Financial Express. 26 June 2017. Retrieved 27 June 2017.